GIANTLOOP RAISES $120 MILLION FOR ITS OPTICAL ENTERPRISE SERVICES
GiantLoop Network, a start-up service provider targeting Enterprise Optical Networking services, raised $120 million in Series C funding from venture firms, strategic partners, and leading technology companies.  The company has secured $160 million to date for rollout of its network.

GiantLoop's optical service will aggregate data (IP, Ethernet, ATM), storage (Fibre Channel, ESCON, FICON), and enterprise system (ESCON, FICON, ISC/ETR) protocols for Global 250 companies.  Some of the investors include Greylock Partners, Pilot House Ventures, Roger Marino (one of the founders of EMC Corporation), Nortel Networks, 360networks, Sycamore Networks, Cabletron Systems and CNT.  http://www.giantloop.com/news_releases_130201_seriesc.html
GiantLoop Network, February 13, 2001

• GiantLoop Network is deploying Nortel Networks' OPTera Metro 5200 Multiservice Platforms. The one-year agreement with Nortel Networks is valued at up to US$50 million
• Giant Loop was co-founded by Mark Ward, formerly VP of Global Marketing and Professional Services at EMC Corporation; Chris Riley, previously President of Comdisco's Network Services Division; and Randy Seidl, formerly Chairman and CEO of Workgroup Solutions LLC, an open systems integration and services company.
• 360networks will be GiantLoop Networks' preferred provider of North American and transatlantic broadband network services.  It also holds an equity stake in Giant Loop.

WILLIAMS PROJECTS NETWORK REVENUE GROWTH EXCEEDING 60% THROUGH 2005
Williams Communications announced new financial guidance, saying it expects revenue for its network business to be between $1.3 billion and $1.4 billion, a 100% year-over-year growth in recurring revenue.  For Q1, network revenue is estimated at $243 million to $250 million, including approximately $8 million of dark fiber revenue.  Long term, Williams expects network revenue to grow approximately 60 to 65% per year through 2005.  Williams Communications plans to unveil new optical services in the second half of 2001, including Protected Wavelengths and Virtual Fiber services.  http://www.williams.com/news/newsreleases/rel675.html
Williams, February 13, 2001

WILLIAMS LIGHTS 6,400 KM OPTICAL LINK WITH CORVIS PLATFORM
Williams Communications implemented a 6,400 km transmission without electrical regeneration along a portion of its network using Corvis' all-optical technology.  The distance of this transmission is greater than the distance from Boston to San Diego.  http://www.corvis.com/news/release.cfm?num=93
Corvis, February 13, 2001

ITXC INTERNET TELEPHONY TRAFFIC RISES 31% SEQUENTIALLY IN Q4, FREE PC-TO-PHONE CALLING DECLINES
ITXC carried 355 million minutes of Internet telephony traffic in Q4, up 31% over Q3.  Despite the rise in traffic, ITXC said free PC-to-phone calling has decreased and many companies have stopped offering it all together due to declines in advertising.  ITXC assets and capacity used to provide free PC-to-phone service to other partners have largely been deployed to support ITXC's Internet telephony phone-to-phone service.  The company expects PC-to-phone calling to grow at a much slower trajectory without the inducement of "free" service. ITXC is also looking to introduce new services to increase its margins.  Q4 revenues were $27.6 million, yielding a net loss $10.3 million or $0.24 per share.  http://www.itxc.com/press/
ITXC, February 13, 2001

FINISAR ANNOUNCES 10-GIGE SERIAL OPTICAL TRANSCEIVERS
Finisar introduced 10-Gigabit Ethernet serial optical transceivers designed for switches, hubs and optical transmission systems used in metro area networks.  The devices can transmit and receive at bit rates up to 10.7 Gbps by relying on a single 1310nm distributed feedback laser (DFB) or 850nm vertical cavity emitting laser (VCSEL) in conjunction with high speed optics and Finisar's proprietary integrated electronics.  The transceivers could be used for Fibre Channel, Ethernet and SONET applications. http://www.finisar.com/
Finisar, February 13, 2001

XTERA DEMOS 10-GBPS TRANSMISSION WITH RAMAN AMPLIFIERS IN THE S-BAND
Xtera Communications, a start-up developing long-haul and ultra-long-haul optical technology, demonstrated multi-channel 10 Gbps transmission through standard single mode fiber using cascaded discrete Raman amplifiers in the S-band.  Current DWDM systems transmit in the C-band (1530 to 1565 nm) and the L-band (1570 to 1610 nm).  Xtera's 16-channel transmission used a previously untapped window of bandwidth between 1485 and 1525 nm, supporting 50 GHz spacing.   Xtera’s eXpander system could be integrated into existing DWDM systems, providing new bandwidth capacity on existing fiber without requiring additional network elements to be deployed.  http://www.xtera.com
Xtera, February 13, 2001

• Xtera Communications was founded by Dr. Mohammed N. Islam, a full tenured professor in Electrical Engineering at the University of Michigan in Ann Arbor and an expert in fiber optics, all-optical switching, soliton transmission and ultrafast networks.  He previously founded Accuphotonics, which developed fiber-optic probes for biomedical imaging.  Xtera is headed by Dr. Jon Bayless (CEO), who has been associated with Sevin Rosen Funds since 1981.
• Last month, Xtera closed $110 million in second round funding, bringing its total to date to $133 million. 

SOUTHAMPTON PHOTONICS SHIPS 25GHZ FIBER BRAGG GRATINGS
Southampton Photonics announced commercial release of 25GHz channel separation fiber Bragg gratings (FBGs), which are components used for filtering, routing, and conditioning the individual wavelengths of light in DWDM systems.  Current generation FBGs achieve channel separations of 100GHz and 50GHz.  Southampton Photonics' 25GHz FBGs are expected to yield DWDM systems supporting 320 channels per fiber and beyond.  Southampton Photonics is using an automated process to manufacture its high precision fiber Bragg gratings.  http://www.southamptonphotonics.com
Southampton Photonics, February 12, 2001

• Southampton Photonics, a start-up with roots in the Optoelectronics Research Centre (ORC) at the University of Southampton, UK, attracted first-round funding of $55 million in June of 2000 to develop optical components.  The company's investors include Rosen Funds, InterWest Partners, Amadeus Capital Partners, and Quantum Technology Partners.

FINISAR SELLS SERVICE GROOMING AND COARSE WDM TECHNOLOGY TO ONI SYSTEMS
Finisar will sell technology and other assets associated with its Opticity product line to ONI Systems for $50 million.  Gigabit Ethernet and Fibre Channel grooming capabilities are included, along with coarse WDM optical transport technology and service monitoring capabilities.  ONI will incorporate the Finisar technology in a new edge optical services platform for delivering wavelength services.  The companies have also entered into a volume purchase agreement under which ONI will purchase from Finisar certain optical components for the new product.  http://www.oni.com/
ONI Systems, February 13, 2001

CHINA TELECOM SELECTS NORTEL NETWORKS FOR OPTICAL BACKBONE
China Telecom awarded a US$101 million contract to Nortel Networks for a new, 15,000 km network featuring its OPTera Long Haul 1600 DWDM platform and its OPTera Connect DX optical switch.  Nortel Networks is currently building a national, multiservice ATM network for China Telecom.   http://www.nortelnetworks.com
Nortel Networks, February 13, 2001

• To date, Nortel Networks has won more than 20 contracts in China for 10 Gbps and DWDM optical solutions.

JDS UNIPHASE AND SDL COMPLETE MERGER
JDS Uniphase and SDL have completed their merger.  JDS Uniphase also announced the creation of two new business groups. Don Scifres, CEO and President of SDL, will become President of the Amplification and Transmission Business Group.  Jay Abbe, current President and COO of JDS Uniphase, will become President and COO of the WDM, Switching and Thin Film Products Business Group.  http://www.jdsuniphase.com
JDS Uniphase, February 13, 2001

• JDS Uniphase first announced plans to acquire SDL Inc. on July 7, 2000 for a record $41 billion in stock (July 7 prices).
• SDL, which was based in San Jose, California, supplied grating-stabilized 980 nm pump lasers to JDS Uniphase for JDS Uniphase's high-performance erbium doped fiber amplifiers (EDFAs), critical components used in DWDM systems.  SDL has also been a primary supplier of 980 nanometer (nm) pump modules to Corning.  Its product line also includes 2.5 Gbps and 10 Gbps modulators, arrayed waveguide gratings used for optical muxing and demuxing, specialized lasers, optical splitters, and other optoelectronic components. 
• To gain US Department of Justice clearance for its merger with SDL, JDS Uniphase sold its subsidiary that makes 980 nanometer pump-laser chips to Nortel Networks for US$2.5 billion in stock, plus an estimated additional US$500 million in contingency fees if Nortel does not meet certain purchase commitments.  A 980 nanometer pump-laser chip provides the energy source by which light is strengthened as it is transmitted on fiber

NANOVATION TECHNOLOGIES NAMES NEW CEO
Nanovation Technologies, a developer of photonic integrated circuits, named Bob Chaney as its new CEO.  Chaney has served as acting CEO of Nanovation since July 2000, before which he was the company's senior vice president of marketing and business development. Prior to Nanovation, Chaney served as vice president of e-business mergers and acquisitions for BellSouth’s Business Services Division.  http://www.nanovation.com/pressroom/news_story.cfm?article=29
Nanovation Technologies, February 13, 2001

ACCELERATED NETWORKS REPLACES CEO
Accelerated Networks named Gary J. Sbona as its new chairman and CEO, replacing Suresh Nihalani, the company's founder, who has resigned to pursue other opportunities.  Sbona is the founder of Regent Pacific, a company that provides senior-level operating managers.  Sbona also serves as chairman and CEO of Verity Inc.  http://www.acceleratednetworks.com
Accelerated Networks, February 13, 2001

SYCAMORE REPORTS REVENUE OF $149 MILLION, UP 24% OVER PRECEDING QUARTER
Sycamore Networks reported quarterly revenue of $149.2 million, an increase of 414% compared with $29.0 million in the same period last year and 24% higher than the previous quarter.  Net income was $18.1 million, or $0.06 per share.  The company noted three customers for its SN 16000 Intelligent Optical Switch and commercial deployment for its optical edge product, the SN 3000 Optical Access Switch.  http://www.sycamorenet.com/about/news/pressreleases.cfm?news_item_id=426
Sycamore Networks, February 13, 2001

• During the quarter, Sycamore shipped products to 14 service provider customers and one international distributor.  Williams accounted for over 50% of the company's revenue, and there were two other customers each accounting for over 10% of revenues.
• A replay of Sycamore's Q2 Earnings Conference Call is available online http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=SCMR&script=1100